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At the beginning of the year, Pina Colada had an inventory of $560000. During the...

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Accounting

At the beginning of the year, Pina Colada had an inventory of $560000. During the year, the company purchased goods costing $2400000. If Pina Colada reported ending inventory of $880000 and sales of $3640000, their cost of goods sold and gross profit rate would be?

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